Living through a Downturn: My Dad’s Story

9 December 2008

It’s difficult to thrive when the economic world around you is falling apart.
I hate to say it, but I know. I KNOW. I grew up in Buffalo during the 1970s. One of my fondest memories of my father was our discussions of the decline of the oil industry, his employer (remember Texaco?). [...]

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How NOT To Think About the Recession

8 December 2008

A success coach named Della Menechella is recommending formula for thinking about the recession that is fundamentally unsound.
Her advice is rooted in the sandy soil of many years of easy times, times that have come to an abrupt and surprising end. There is more than a little economic illiteracy underlying her assumptions. [...]

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Reality Bites

5 December 2008

I hope you will read this gentle, sympathetic, but tough-minded assessment from investment advisor and prominent financial blogger Mike Shedlock (Mish). He put it in a comment yesterday, and it needs more visibility.
People may not like it but the standard of living in the US is likely to drop for the first time in [...]

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25 Things to Do Instead of Panic About the Recession

4 December 2008

If you, like me, like to have a list of things to do to feel more in control, try this one. It is guaranteed to calm your panic.
You have enormous resources inside of you; these tips will free up your natural resilience. Work with the list until your panic abates and your resilient [...]

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How to Overcome Your Economic Fears

3 December 2008

“We have nothing to fear but fear itself. “
We could use a little of Franklin Delano Roosevelt’s Depression-era grit right now.
This so-called recession is actually a systemic crisis that covers the entire world economy. We will all be deeply affected, if not today, then next year or the year after. All signs [...]

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Bailout Auto Industry with Retiree Health Insurance Relief

20 November 2008

Let’s not give Detroit a bailout. If there are problems with the GM, Ford, or Chrysler business model, those are problems that the market — and reorganization through bankruptcy — will solve. It worked to modernize the airline industry. It will work for the auto industry, as Mitt Romney explained so well [...]

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You Can Defeat Three Kinds of Poverty from Wherever Your Are (Blog Action Day 2008)

15 October 2008

This is BLOG ACTION DAY against poverty.
Poverty, to me, isn’t about having few material possessions. It is about not being able to live well in this world. It is about being left on the sidelines of life.
The technical term “marginalization” means essentially the same thing, but I like the more visual sports metaphor. [...]

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Why Positive Thinking Won’t Beat The Recession

10 October 2008

Many commentators are encouraging business owners to REFUSE to participate in the coming economic recession.
I completely disagree.
Here is the reality: We ARE ALL participating in this recession because we are all alive and part of this world and economy we live in.
Those who do well in a crisis FACE reality head-on. [...]

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Will Wall St Meltdown Affect Your Small Business?

9 October 2008

I’m concerned that so many small business owners are confident that the economic distress currently gripping Wall Street won’t spread to them. While optimism is the hallmark of an entrepreneur, it is exactly the wrong attitude to take into a financial crisis.
The first step must be to accurately assess the risks and protect yourself. [...]

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Bailout’s PR Failings Damaging American Economy

3 October 2008

Richard Edelman’s blog dissects the serious PR blunders in the “bailout” that have fractured us politically as a nation.
Read it for some real wisdom about our current crisis: http://www.edelman.com/speak_up/blog/archives/2008/09/failure_to_comm.html
Getting tagged with the term “bailout” is one of the failings he lists.
How about “economic stabilization.” Let’s hope that is coming….
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Global Economy is Why Bailout Is Needed

2 October 2008

I received a note from a financial educator colleague opposing the bailout. However much I agree with her about the causes, I reach the opposite conclusion about the bill. Here is my take.
Unlike all of the other financial debacles you cite, this one is global and its attendant risks are unprecedented. [...]

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